On Friday, the Helsinki Stock Exchange began trading with a decline but turned to a clear rise during the day. The general index finished up 0.7 percent at 9,838 points. The most actively traded stock of the day was Nordea, which had announced its results the previous day. The bank’s stock closed up 1.4 percent. Nokia, which also announced its results on Thursday, was the second most traded stock and rose 2.5 percent during the day. Although Nokia’s first-quarter figures did not meet expectations, the company believes that it has seen the foundations of its mobile network business being built.
During the day, Elisa gained the most with a 4.4 percent increase after announcing its earnings. Despite reporting an operating profit in January-March of €112 million, slightly below analyst expectations, Elisa maintained its revenue growth target for 2024 and comparable EBITDA forecasts for 2025.
Other companies that announced their results on Friday were Middle Soul, Morning, and QPR Software. Alma Media’s first-quarter result was slightly below analyst expectations; however, its stock closed unchanged.
Gofore had a slower first quarter compared to previous growth and profitability development due to lower sales volumes in some segments; hence its stock fell by 3.9 percent.
QPR Software reported positive operating results for the first time since 2019; however, its share price closed down by 8.5 percent.
Ponsse lowered its revenue growth guidance for 2024 after reporting lower than expected demand in some segments; hence its share price closed down by 6.8 percent.
Valoe secured funding for a restructuring program and raised €13 million through a rights issue at €7 per share price.
The market saw mixed reactions to these earnings announcements and guidance updates from various companies as several target prices and recommendations were adjusted accordingly.
Overall, while there were positive movements in some stocks like Elisa and Gofore’s guidance updates, negative movements were observed in other stocks such as Ponsse’s lowering of revenue guidance targets and QPR Software’s decline in share price despite reporting positive operating results.
